Mati Carbon, an Indian-led climate initiative has secured the $50 million grand prize in the XPRIZE Carbon Removal competition, outshining over 1,300 teams from 112 countries. Their model seems simple, but is quite complex. Mati Carbon uses an Enhanced Rock Weathering (ERW) model, which captures carbon dioxide (CO2) while boosting crop yields for smallholder farmers. This offers a rare synergy of environmental and social impact.
Mati operates in India, Tanzania, and Zambia, and has partnered with over 16,000 farmers since 2022. They aim to reach 30,000 by year-end, with a bold vision to impact 100 million by 2045. As India grapples with climate-induced agricultural stress and a nascent carbon market, scaling this solution faces formidable hurdles.
In an exclusive interview with The Indian Express, Shantanu Agarwal, Mati Carbon’s founder and CEO, and Jake Jordan, chief science officer, outlined their mission. “This XPRIZE win validates our science and commitment to smallholder farmers who bear the brunt of climate change,” Agarwal said. “But scaling in India, with its fragmented landholdings and uneven infrastructure, is a massive challenge.”
How enhanced rock weathering works
Mati’s ERW process involves spreading pulverised basalt—a volcanic rock—on farmlands, accelerating a natural weathering process that captures atmospheric CO2 and stores it as bicarbonate in groundwater and oceans for over 10,000 years. “The process forms a weak acid from rainwater and CO2, breaking down the rock faster than natural weathering,” Jordan explained. “It’s like dissolving powdered sugar versus a sugar cube.”
The basalt also releases nutrients, enhances soil fertility and results in healthier crops and better yield. The rigorous Monitoring, Reporting, and Verification (MRV) framework, developed with IIT Kanpur, Yale University, and the University of Sheffield, ensures precise carbon quantification, earning trust from buyers like Shopify, Stripe, and H&M.
Empowering India’s smallholder farmers
Smallholder farmers, cultivating 47 per cent of India’s farmland, are uniquely vulnerable to climate change. The 2024 Monsoon Report by the India Meteorological Department noted eight per cent above-average rainfall, yet flooding and crop losses disproportionately affected smallholders. Mati’s model addresses this by improving soil health and incomes.
Agarwal shared the story of a Chhattisgarh farmer with two acres whose rice yield surged from 2,500 to 3,500 kilos—a 70 per cent increase—after basalt application. “He paid off debts because it’s free. We deliver and spread the basalt; he farms as usual,” Agarwal said.
Story continues below this ad
Mati targets climate-vulnerable regions like northern Chhattisgarh, Madhya Pradesh, and Jharkhand, often hours from airports. “We focus on small farmers in backward areas,” Agarwal explained. “We analyse crop types, soil compatibility, and basalt composition to ensure viability.” The Deccan Traps’ vast basalt supply—capable of removing all anthropogenic CO2 with just one per cent of its reserves—makes India an ideal hub. Mati piggybacks on existing rock-crushing for construction, minimizing environmental impact.
Farmers also report a 65 per cent reduction in pesticide use, as nutrient-rich soils yield healthier, disease-resistant crops. “It’s like humans eating vitamins for better immunity,” Agarwal said. “Healthy plants don’t get sick.” This organic, nature-driven approach aligns with India’s push for sustainable agriculture under the National Mission for Sustainable Agriculture.
Scaling challenges: Trust, logistics, and markets
Mati’s ambition to reach 100 million farmers by 2045 is daunting. “Farmers dependent on a few acres are risk-averse,” Agarwal noted. “Explaining that we remove invisible CO2 for distant buyers sounds dubious.” Mati overcomes this through demonstration: trials in the first season, 10-20 per cent adoption in the second, and overwhelming demand by the third. “They see yield increases and lower pesticide needs with their own eyes,” he said.
Logistics in remote areas pose another hurdle. Transporting basalt to villages and training farmers across India’s diverse agro-climatic zones is costly. Mati’s proprietary platform, matiC, uses AI to streamline operations, from farmer engagement to carbon verification, but scaling to millions requires more. “Our tech stack enables farmer-entrepreneur partners to deliver our model regionally,” Agarwal said, emphasizing a franchise-like approach to achieve the “unreasonable” 100-million-farmer goal.
Story continues below this ad
The carbon market, where Mati sells credits to fund its free basalt applications, is another challenge. Currently priced at $300-$400 per ton, credits are bought by net-zero-focused firms like Shopify, Stripe, and H&M. “These buyers support our scaling to hit $100 per ton in five to seven years,” Agarwal said. However, India’s carbon market is nascent, with prices volatile ($10-$30/ton globally in 2024, per the World Bank). Convincing Indian unicorns to buy removal credits as part of corporate social responsibility (CSR) requires education. “Indian companies with net-zero goals should include removal in their portfolios to mitigate past emissions,” Agarwal urged.
The role of Government
Mati has garnered local support from district magistrates, agriculture officers, and Krishi Vigyan Kendras (KVKs). “They love our technology and collaborate closely,” Agarwal said. Studies with government universities, like IIT Kanpur, provide years of data to prove ERW’s efficacy. Yet, national-level adoption could unlock greater impact. “Subsidies for basalt transport or carbon credit incentives would accelerate scaling,” Agarwal suggested, aligning with India’s net-zero-by-2070 goal.
Jordan emphasized ERW’s fit for India’s agriculture-heavy economy. “Governments serve farmers, a key constituency. Our yield increases and climate benefits are a strong match for national priorities,” he said. However, policy inertia and the need for extensive proof points slow progress. “We’re building scientific momentum with Indian research to convince policymakers,” Agarwal said.
A broader climate context
Mati’s focus on removal doesn’t negate the need for emissions reduction. “We need both,” Jordan stressed. “Reduction stops new CO2; removal balances unavoidable emissions, like agriculture’s residual CO2.” India, the world’s third-largest emitter, relies heavily on coal, complicating its net-zero path. Mati’s ERW, with its permanence, offers a robust tool, but it’s not a panacea.
Story continues below this ad
The Global South’s degraded soils make it ideal for ERW, unlike chemically optimized farms in the US. “Skeptics in the West question small farms’ scalability, but their yield gains drive adoption,” Jordan said. This economic incentive positions India as a leader in inclusive climate solutions.
Looking ahead
Mati’s XPRIZE win and $50 million prize provide a springboard to scale its smallholder-focused model, sustained by carbon credit sales. Its partnerships with IIT Kanpur, Yale, and the University of Sheffield ensure scientific rigor, while local collaborations amplify reach. Yet, success hinges on overcoming logistical, market, and policy barriers. As India navigates climate change and food security for 1.4 billion people, Mati’s model—rooted in nature and farmer empowerment—offers a blueprint. Whether it can scale to 100 million farmers remains a test of innovation, collaboration, and political will.
“For us, the farmer is the only stakeholder,” Agarwal concluded. “If we help them, society helps us back.”
